Shares of networking giant Cisco have been lagging the market for years, but the options market is suddenly bullish. Here's what Goldman recommends.

Over the past three years, anyone who avoided Cisco Systems was a stock-market genius. The stock rose a pathetic 2%, which, when adjusted for inflation, equals a negative return at a time when the Standard & Poor's 500 index rose 54%.

Yet, it is largely because Cisco (ticker: CSCO) has been such a market laggard that the stock is suddenly trading like a bullish banshee in the options market. Earnings are scheduled for next...